President’s Report for FY2010

Dear Members,

In 2010, our club was renamed ‘Enterprise 50 Association’ from ‘Enterprise 50 Club’ to reflect members’ business interests in our 11th year running. Since then, we became officially a Trade Association Member of the Singapore Chinese Chamber of Commerce and Industry (SCCCI) and increased in collaborations with external organisations. In the period of 2010-2011, we entered into partnership with OCBC where OCBC agreed to support and sponsor three key events of the Association. We co-organised a Business Leaders Initiative: Developing Strategic Capabilities for Sustainability with SPRING Singapore at The Pines under its Advanced Management Programme- a three-day intensive course for SME business owners.

We held two business missions to China with IE Singapore, first with the Singapore-Zhejiang Economic and Trade Council delegation to Zhejiang, and second with the Singapore-Jiangsu Co-operation Council to Jiangsu cities which provided the Association’s delegates opportunities to network with government officials and gain insight into the region. We also partnered with ACE Singapore where members volunteered as mentors to young start-ups at the BlueSky Festival in 2010.

We continued to initiate members’ only events which included a luncheon with Singapore Exchange Chief Executive Officer Mr Magnus Bocker addressing listing aspirations and experiences. Members were invited to visit the Singapore Parliament hosted by then Speaker of Parliament Mr Abdullah Tarmugi, and the Samwoh Eco-Green Park hosted by Samwoh Corporation Managing Director Mr Elvin Koh. Following the release of Budget 2011 by the Singapore Government and members’ interest in understanding the various tax incentive schemes, we jointly organized a seminar with KPMG on the Productivity and innovation Credits (PIC)
scheme for finance managers.

We are pleased to welcome 17 new members who have joined us in the period, bringing the total number of members to 159. We will continue to form strategic partnerships and collaborate with companies, government agencies, chambers and other trade organizations to extend the knowledge, business network and
opportunities for member companies.

I would like to take this opportunity to extend my heartfelt thanks to every member who have joined and stayed with us through the years. You have stood by us and supported the Association by your active participation, sponsoring your time, contributed in cash and in kind towards the running of our events for fellow members. Indeed, as the Association grows in number each year, let us also grow in partnership and unity amongst entrepreneurs. The Management Committee and I would like to express our gratitude to You- our members, our honorary council members from The Business Times and KPMG, OCBC Bank and all partners whom we have worked with one way or the other.

I wish you the best in the year ahead.

Andy Lim